{Despite|In spite of|Regardless of} {difficult|challenging|tough|hard} {challenges|difficulties|obstacles}, {entrepreneurs|business owners} are "the engines of {growth|development}" that are {transforming|changing} the American economy. According to the {Small Business|Small Company} Administration, {entrepreneurs|business owners} {start|begin} more than 600,000 {businesses|companies|services|organisations} in the United States every year.

How {important|essential|crucial} are {small businesses|small companies} to the U.S. economy?

Let me {share with|show} you {some of|a few of} the most {recent|current} {information|info|details} {published|released} by the U.S. {Small Business|Small company} Administration's {Office|Workplace} of Advocacy. {Small businesses|Small companies} ...

• Represent 99.7% of all {employer|company} {firms|companies}.

• {Employ|Utilize|Use} {just|simply} over half of all {private sector|economic sector} {employees|workers|staff members}.

• Pay 44% of {total|overall} U.S. {private|personal} payroll.

• {Generate|Produce|Create} 64% ({net|internet|web}) of {new|brand-new} {jobs|tasks} over the {past|previous} 15 years.

• {Create|Produce|Develop} more than 50% of the nonfarm {private|personal} gross domes ¬ tic {product|item} (GDP).

• {Hire|Employ|Work with} 40% of high tech {workers|employees}, such as {scientists|researchers}, engineers, and {computer|computer system} {programmers|developers}.

• Are 52% home-based and 2 percent franchises.

• Produce 13 times more patents per {employee|worker|staff member} than {large|big} patenting {firms|companies}.

{Since|Because|Considering that|Given that} {small businesses|small companies} have such {an important|an essential|a crucial} {impact on|effect on|influence on} {the business|business} cycle, what drives {entrepreneurs|business owners} to {create|produce|develop} something, out of {nothing|absolutely nothing}? For that matter, what is {an entrepreneur|a business owner}, and what makes him or her tick? {Consider|Think About} Sam Walton, {one of|among} {the greatest|the best} {entrepreneur|business owner}'s of the 20th century who {once|when|as soon as} {said|stated}, "I {have|have actually} {always|constantly} been driven to buck the system, to innovate, and to take things beyond {a place|a location} where they{'ve| have actually} been."

What is {an entrepreneur|a business owner}?

The French word, {entrepreneur|business owner}, {means|implies|indicates|suggests} an enterpriser. An enterpriser is {person|individual} who {undertakes|carries out} {an enterprise|a business} or {business|company|service|organisation}, with the {chance|possibility|opportunity} of {profit|revenue|earnings} or loss. {An entrepreneur|A business owner} is {an individual|a person} who {uses|utilizes} {venture capital|equity capital} to {start|begin} and {finance|fund} {a new|a brand-new} {enterprise|business}, and who {assumes|presumes} the {financial|monetary} {risks|dangers|threats} {associated with|connected with|related to} owning, operating, and {managing|handling} {an enterprise|a business}.

{Entrepreneurs|Business owners} {come in|are available in|can be found in} {many|numerous|lots of} {varieties|ranges} and tend to {develop|establish} {innovations|developments} and {create|produce|develop} {jobs|tasks}. As {a result|an outcome}, according to the SBA, they are {vital|important|crucial|essential} to {a stable|a steady} and robust American economy. While {many|numerous|lots of} {consider|think about} {entrepreneurs|business owners} to be visionaries, dreamers, and {charismatic|charming} leaders, not all {entrepreneurs|business owners} share these {characteristics|qualities|attributes}.

{Most|Many|A lot of|The majority of} {entrepreneurs|business owners} are {individuals|people} who march to their own drums, and who have the drive, {determination|decision}, and {perseverance|determination} to bring {ideas|concepts} and {opportunities|chances} to life. {Entrepreneurs|Business owners} {usually|typically|normally|generally} have a clear, {communicable|contagious|infectious} vision, {a passion|an enthusiasm} for their {areas|locations} of interest, the {motivation|inspiration} to take their vision to market, and the {perseverance|determination} to continue in spite of {obstacles|challenges|barriers} and {setbacks|problems|obstacles}.

The {entrepreneurs|business owners} are, without a doubt, horses of {a different|a various} {breed|type}. {Entrepreneurs|Business owners} are {mavericks|radicals} with vision and {determination|decision} to {create|produce|develop} {a company|a business} that takes the vision to market.

{Entrepreneurs|Business owners}, as a group, {want to|wish to} {architect|designer} and {control|manage} their own {destinies|fates}. They are {inspired|influenced|motivated} to {launch|introduce|release} their own {business|company|service|organisation} {ventures|endeavors} and are driven to {identify|determine|recognize} and {exploit|make use of} high-potential, {business|company|service|organisation} {opportunities|chances}. They are {typically|generally|usually|normally} {obsessed|consumed} with all {aspects|elements} of their {chosen|selected|picked} {area|location} of {expertise|proficiency|knowledge|competence|know-how}. {Entrepreneurs|Business owners} have an itch to {create|produce|develop} {a new|a brand-new} life, be their own {boss|manager|employer}, follow their own {path|course}, and shed the {constraints|restrictions|restraints} of the 9-to-5 work world.

{Entrepreneurs|Business owners} {move on|proceed|carry on} ideas-ideas that are {often|frequently|typically} {generated|produced|created} by a flash of {inspiration|motivation} {and that|which} are {frequently|often|regularly} {overlooked|neglected|ignored} by others. {Entrepreneurs|Business owners} {are able to|have the ability to} {change|alter} {directions|instructions} {quickly|rapidly} as conditions {evolve|develop|progress}. They can {navigate|browse} {transitions|shifts}, {tolerate|endure} {uncertainty|unpredictability}, and can {balance|stabilize} {continuity|connection} with {change|modification}. Most {importantly|significantly|notably}, they are {tenacious|solid}! They follow {projects|jobs|tasks} through to {completion|conclusion} and do not {give up|quit} {easily|quickly}, even in the {toughest|most difficult|hardest} of times.

What drives {a person|an individual} to {start|begin} an entrepreneurial journey?

There are as {many|numerous|lots of} {reasons|factors} that {individuals|people} {start|begin} {new|brand-new} {businesses|companies|services|organisations} as there are {people|individuals} ... Although {motivations|inspirations} {vary|differ} from {individual|private|specific} to {individual|private|specific}, the most {common|typical} {driver|chauffeur|motorist} that {individuals|people} {cite|mention|point out} as their {reason|factor} for {starting|beginning} {a new|a brand-new} {enterprise|business} is their desire for {independence|self-reliance}. {Entrepreneurs|Business owners} {want to|wish to} be {autonomous|self-governing}. They {want to|wish to} have the {freedom|flexibility|liberty} to act {independently|separately|individually} in {achieving|accomplishing|attaining} their desires and {goals|objectives}.

{Entrepreneurs|Business owners} {also|likewise} {start|begin} {businesses|companies|services|organisations} for {many|numerous|lots of} other {reasons|factors}. Here are {a few|a couple of} {additional|extra} {reasons|factors}:

• Sense of {accomplishment|achievement}: {Entrepreneurs|Business owners} have the {need|requirement} to {achieve|accomplish|attain} and experience a sense of {accomplishment|achievement}.

• Innovation/Invention: {Entrepreneurs|Business owners} have a drive to {invent|create|develop} {new|brand-new} {products|items}, services, {processes|procedures}, markets or {opportunities|chances}, and to {create|produce|develop} {new|brand-new} {rules|guidelines} of {competition|competitors}.

• {Career|Profession} {transition|shift}: {Entrepreneurs|Business owners} {often|frequently|typically} make {career|profession} {transitions|shifts} upon {job|task} laid off, {downsizing|scaling down}, out sourcing, retirement, or the desire for {independence|self-reliance}.

• {Recognition|Acknowledgment}: {Entrepreneurs|Business owners} {hunger|appetite|cravings} for: status, power, or {recognition|acknowledgment} for the {value|worth} of {an idea|a concept} or {an enterprise|a business}.

• Wealth {building|structure}: Although {entrepreneurs|business owners} {may|might} {become wealthy|prosper} {individuals|people}, {entrepreneurs|business owners} {typically|generally|usually|normally} do {not consider|rule out} wealth {creation|development|production} as their {primary|main} {goal|objective} - wealth {creation|development|production} {presents itself|emerges} as the {byproduct|by-product} of the entrepreneurial {adventure|experience}.

• {Principles|Concepts}: {Many|Numerous|Lots of} {entrepreneurs|business owners} are driven to {build|develop|construct} {businesses|companies|services|organisations} that are governed by deeply-held {principles|concepts} and {values|worths} that {contribute to|add to} their {community|neighborhood} and to society {as well|also|too}.

What {motivates|inspires|encourages} {an entrepreneur|a business owner} is the drive to {control|manage} his own schedule, {manage|handle} his own {workload|work}, and steward his own {destiny|fate}. {Entrepreneurs|Business owners} {want to|wish to} {envision|visualize|imagine|picture} a future where they are doing what they {love|like|enjoy} to do!